2023 Football Scholly Tracker | In: Roberts (A&T LB), Ganious (Nova DT), Merrill (Vols WR)

[BeachBumDeac]

so now QBs are like head coaches who negotiate raises for their assistants?

 

[wfu22fan]

I think Jackson is on an academic scholarship, but I could be wrong. He was accepted at Harvard before he commited to WF.

 

[DeacDaddy]

I didn’t think that was permitted.

 

[NewBernDeac]

Drake "Robin Hood" Maye

No. Robin Hood took from rich and gave to poor expecting nothing in return. Don’t tell me maye doesn’t expect personal support payback It’s his investment. Why not share equally with the whole “team” for a team incentive. Nor will nil groups give equally Because it ain’t really a team effort. Thereby ruining the concept of college sports. It’s professional in every way.

 

[sportsmed86]

And pay their tax


And he would pay their taxes on that money?

No one pays taxes on gifts

 

[SkyDivingDeacon]

No one pays taxes on gifts

Depends on the amount. Also depends on what is gifted and who or what is receiving the gift.

 

[TheAbster]

No one pays taxes on gifts

Ummm... sure about that one? It used to be an over $16K threshold but there are definite IRS rules in place.

 

[raldeac]

Well, doesn't Biden want/require every entry over $600 be reported to IRS?

 

[TheAbster]

Well, doesn't Biden want/require every entry over $600 be reported to IRS?

Yes. Unfortunately. It's an absurd limit and will have to be changed.

 

[CreamyGoodness]

I've started sending my drug dealer Venmo for $599. Jokes on you, Biden!

 

[macktheknife]

Not clear if this is earned income or a gift or what

Current limit on gifts is $16,000.00. If more you pay gift tax.

 

[DeaconCav06]

Current limit on gifts is $16,000.00. If more you pay gift tax.

There’s a lifetime exclusion amount of $12.06 million that you exhaust before paying.

 

[middy]

NIL is self employment income and taxable.

 

[wfu22fan]

Ok. So the QB pays the tax and gifts money to the OL.

 

[ChrisL68]

So basically it would start lowering the donors exclusion amount from when they die.

 

[ChrisL68]

Ok. So the QB pays the tax and gifts money to the OL.

I'm sure that the quarterback would direct the donor to pay the ol.

 

[WakeBored]

TAXES

 

[MichDeac25]

I'm supposed to be the franchise player and we in here talkin' about TAXES!

 

[TimmyClutch]

y'all sure know how to ruin a conversation about football. Maybe we can package Hartman to UF for their 3 LB's in the portal.

 

[sportsmed86]

Current limit on gifts is $16,000.00. If more you pay gift tax.

As Mack points out, no you don’t. You can front load your lifetime estate tax exemption allowance.